by The hydrogen peroxide market is a well-established industry with wide applications across various end-use verticals including healthcare and personal care, paper and pulp processing, food processing, textile processing and water treatment. Hydrogen peroxide is commonly used as bleaching agent and disinfectant in several industries owing to its oxidizing properties. It breaks down to form oxygen and water, leaving no toxic residues.
The Global Hydrogen Peroxide Market Demand is estimated to be valued at US$ 6290.14 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period between 2024 to 2030.
Key Takeaways
Key players operating in the hydrogen peroxide market includes Novartis AG, Mylan Laboratories Inc., Actavis Generics UK Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Zentiva a.s., Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., and Accord Healthcare Limited. These players are primarily focusing on enhancing their production capabilities and formulations to cater to the growing demand.
The growing applications of hydrogen peroxide in industries such as healthcare, paper & pulp, textiles and various other have created lucrative growth opportunities for market players. Moreover, the rising adoption of environment-friendly products is also expected to drive the overall market during the forecast period.
The hydrogen peroxide market is expected gain traction across the globe owing to increasing usage of hydrogen peroxide in disinfection and cleaning applications. The growing
Market Drivers
The primary growth driver for the hydrogen peroxide market is its increasing usage in the healthcare industry for applications such as surface disinfection, treatment of wounds and acne, and as antiseptic. Hydrogen peroxide acts as an broad-spectrum antimicrobial agent against fungi, bacteria and viruses. It effectively eliminates micro-organisms and prevents contamination without harming human tissues. This unique property has propelled its demand from hospitals, clinics and other healthcare facilities. The market is also gaining from rising applications of hydrogen peroxide in various end-use industries as an environment-friendly biocide and bleach.
PEST Analysis
Political: The political landscape can impact the hydrogen peroxide market through regulations and policies around its production, storage, transportation, and end-use applications. Regulatory norms around environmental protection and chemical safety need to be complied with.
Economic: The economic performance indicators like GDP growth, disposable income levels, industry growth influence the demand trends for hydrogen peroxide. A rise in end-use industries strengthens market growth. Fluctuations in raw material prices and currency exchange rates impact production costs.
Social: Increased health awareness and focus on sanitization boost the use of hydrogen peroxide in medical and household applications. Wide acceptance of green chemicals drives its demand in pulp & paper and environmental applications.
Technological: New production technologies help reduce manufacturing costs. Advancements in controlled-release formulations widen the scope of applications. Automation in processing and quality checks aid productivity and compliance with quality standards.
In terms of value, North America represents the largest regional market for hydrogen peroxide, driven by high demand from the pulp & paper industry and for medical uses. Within North America, the US accounts for the major share owing to large manufacturing capacities and end-use applications.
The Asia Pacific region is the fastest growing market for hydrogen peroxide globally, witnessing a CAGR of around 5% during the forecast period. China, India, Japan and South Korea are the major hydrogen peroxide manufacturing and consuming countries in Asia. Rising industrial activities, surging middle-class population and increasing health awareness support the regional market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
